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Insurers Replacing Distribution/Compensation Management Systems as Part of Modernization Strategies; Novarica Profiles 10 Vendor Solutions

Bill Sinn | July 16, 2019

The replacement of distribution/compensation management (DCM) systems can be a strategic move on the part of insurers to decouple capabilities from core policy administration systems as a mechanism for risk mitigation in large modernization projects. Key capabilities that insurers are looking for include "straight-through appointment" capabilities, producer management analytics, mobile support, and the use of CRM solutions. Additionally, there is growing interest by P/C insurers in DCM products. In its latest Novarica Market Navigator, Distribution/Compensation Management Systems, research and advisory firm Novarica provides an overview of the available stand-alone distribution and compensation management systems currently available to US insurers, as well as detailed profiles of 10 vendor solutions

"For insurance carriers looking to maximize top-line growth and bottom-line earnings, the distribution and compensation (more than commissions) space is an area of increasing importance for overall comprehension and strategic investment," said Chuck Gomez and Deb Culliton, Vice Presidents of Research and Consulting and authors of the report. "Insurers have an increasingly rich vendor market to select from when considering providers of distribution/compensation management solutions. Modern solutions are maturing, giving carriers better options than ever before."

Vendors profiled include: Duck Creek, DXC, Ebix, IBM, Infosys Limited, Majesco, Policy Administration Solutions, SAP, and Vertafore. Please contact or call Victoria Spitz at 833-668-2742 Ext. 130 for more information.

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